Another bank is blaming poor mortgage demand today for falling house prices. This time it is CBA, at the AFR:
“The facts are: our approval rates are unchanged over the last 12 months; our time to get a decision is the same, or slightly better, once the application goes in; [and] we have seen average loan sizes go up,” he said after delivering the bank’s half-year results.
Rather, “we have seen a reduction from a demand perspective.”
